Miami-based Melo Group is one step closer to bringing its 53-story bayfront tower in Miami’s Arts & Entertainment District to life. As the company announced, the project has received a $95 million loan from Ocean Bank. The Arquitectonica-designed, 647-unit luxury condominium is called Aria on the Bay and it will be located at 1770 N. Bayshore Drive.

Aria on the Bay will offer one-, two- and three-bedroom condos along with three-story upper penthouses. The residences will feature private elevator access, floor-to-ceiling windows, wrap-around terraces, open-plan living areas, European-style kitchens and custom-designed cabinetry. The list of common-space amenities includes a resort amenity deck on the 14th floor with four pools, along with a sundeck lounge with fire pits, barbecue grills and summer kitchens. The project will also feature about 20,000 square feet of office, retail and restaurant space on the ground level and lower floors.

Site development is already underway and vertical construction set to begin next month, with delivery slated for 2017. Prices are expected to start from the $400,000s, while the most luxurious units will surpass the $12 million mark.